The industry is seeking clarity on India’s healthcare technology investments by 2024

Ahead of the upcoming election of the 18th Lok Sabha (lower house of India’s bicameral parliament), Union Finance Minister Nirmala Sitharaman announced the government’s interim budget for 2024-2025.

India plans to spend a provisional amount of Rs 90,171 crore ($10.8 billion) on healthcare in the coming fiscal year, up from Rs 79,221 crore ($9.5 billion) earlier. Part of it goes to the following important projects:

• expanding the health insurance program, Ayushman Bharat Pradhan Mantri Jan Arogya Yojana, to include 1.5 million community health workers called ASHA (Accredited Social Health Activist) and Rural Child Care (Anganwadi) workers and helpers

• establishing more medical and nursing schools to help addressing the shortage of medical professionals

• the national rollout of the U-WIN immunization management platform and vaccination campaign to prevent cervical cancer in girls aged 9 to 14 years, both contributing to Mission Indradhanush’s goal of achieving 90% immunization coverage of Indian children

• improved nutrition and better services by upgrading Anganwadi centers

• increased budget for biotechnology research and development to Rs 1,100 crore ($132.5 million) from Rs 500 crore ($60.2 million) in the previous year

Meanwhile, the Rs 1 trillion ($12 billion) budget for states providing interest-free loans of up to 50 years to support research and innovation in so-called ‘sunrise sectors’, including healthcare technology, is “commendable”, says the chairman of Apollo Hospitals. Dr. Prathap C. Reddy. In a statement sent to Healthcare IT newsHe also urged the government to “consider increasing the tax exemption for preventive healthcare” amid growing cases of non-communicable diseases.

“(U)nless India is increasing its focus on innovation and research, as a nation we will not be able to overcome the looming burden of diseases such as the alarming rise in (antimicrobial resistance) and undetected heart diseases and cancers. Innovative solutions to Improving healthcare accessibility and affordability (are) truly the need of the moment.”

Dr. Reddy also believes that India will emerge as a “beacon for global workforce development” given the country’s emphasis on education and upskilling. “I welcome the strategy to expand medical education by capitalizing on existing hospital infrastructure. By doing so, we will not only pave the way for a greater number of medical and nursing colleges but also increase the capacity for paramedical training .”

While the government’s apparent focus on health research, infrastructure and accessibility will create “exciting opportunities for progress,” Rustom Lawyer, CEO and founder of Augnito, noted the uncertainty arising from the “lack of concrete AI plans (in healthcare )’.

“Perhaps these will be addressed in the July budget, but the focus on ‘deep tech for defense’ suggests (that) the government recognizes the strategic importance of such technologies,” he said optimistically. He is also positive that the July official budget will “provide a crucial opportunity to unlock the full potential of digital health”.

Charting the direction of AI in healthcare in India

With the industry expecting further clarity from the July Budget, Advocaat emphasized that now is the time to take action on India’s push for AI-driven healthcare.

“We need a specific roadmap, national AI research centers and robust ethical frameworks to ensure responsible implementation. Imagine AI-based diagnostics supporting remote doctors in rural areas, or personalized medicine that tailors treatments to individual patients. Expanding access to broadband and encouraging telehealth adoption through clear reimbursement policies and ensuring data security are also crucial steps. Patients in remote villages need to access specialist consultations from miles away.

“Breaking down data silos and fostering collaboration is also imperative. Standardized data formats, a national health data repository with robust privacy safeguards, and investments in cybersecurity are critical. Imagine researchers extracting insights from anonymized data to accelerate medical breakthroughs or that doctors have access to a patient’s complete data.” medical history in different hospitals.

“Finally, it is essential to equip healthcare professionals with digital literacy, AI training and data analytics skills. Doctors who can confidently use AI-powered tools to diagnose diseases or nurses who use technology platforms to provide remote care are the future of the industry. Healthcare providers must also enable individuals to take control of their health. By promoting digital tools for remote monitoring, chronic disease management and preventive interventions, patients can actively manage their health status through mobile health apps or receive personalized health recommendations based on their health status. unique data.

“By investing in these strategic areas, we can create a truly transformative digital health ecosystem in India. This isn’t just about technology; it is about empowering individuals, transforming healthcare and propelling India towards a healthier, more equitable future.”